Hooker Furniture Q4 Profit Rises

(RTTNews) - Hooker Furniture Corporation (HOFT) reported fourth quarter net income of $8.53 million compared to $7.02 million, prior year. Earnings per share increased to $0.71 from $0.59.

Fourth quarter net sales declined to $155.26 million from $164.88 million, last year. The consolidated sales decrease was driven by a $20.2 million sales decline in the Home Meridian Segment, where global supply chain disruptions constrained the segment's ability to ship strong orders and backlogs.

"Demand is strong, and we are experiencing significantly increased order rates so far in fiscal 2022 compared to last year this time," said Jeremy Hoff, CEO.